Slovakia Industry

Slovakia

Slovakia: Industrial production accelerates in October

December 10, 2014

Industrial production grew 2.7% in October over the same month last year, which came in notably above the 0.4% rise tallied in September. According to the statistical office, October’s acceleration was mainly the result of strong growth in manufacturing output. Conversely, electricity, gas and air-conditioning supply, as well as mining and quarrying recorded decreases compared to the same month last year.

On a monthly basis, industrial production rose 1.1% in seasonally-adjusted terms in October, which contrasted the 0.5% decline recorded in September. Despite October’s improvement, the upward trend in industrial output continued to moderate, with annual average growth edging down from 6.3% in September to 5.9% in October.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2015, which is down 0.2 percentage points from last month’s forecast. For next year, the panel sees industrial output expanding 6.2%, which is up 0.3 percentage points from last month’s Consensus.


Author:, Economist

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Slovakia Industry October 2014

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics calculations.


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